how would i do question b ?

8 Alternative approaches to accounting Waikato Ltd holds land with a total historical cost of $590,000. The year of purchase and the acquisition cost for each of the four parcels of land owned by Waikato Ltd are as follows: Parcel Year purchased 1 Acquisition cost $ 90,000 110,000 180,000 210,000 2009 2010 2011 2012 2 3 4 All land purchases were made by Waikato Ltd at the end of the accounting period, 30 June. The CPI figures at 30 June were as follows: 2008 105.6 2009 118.5 2010 125.7 2011 132.6 2012 149.3 2013 156.1 Required a Briefly discuss two alternative ways that Waikato Ltd can value its land asset on the 2013 Balance Sheet. b Determine the amount (general price level measurement base) at which land will be reported on the 1 July 2013 Balance Sheet if Waikato Ltd were to use the CPI figures given above c If the land was sold on 1 July 2013 for $950,000, calculate the gain or loss from the sale based on: i historical cost measurement ii the measurement base used in requirement (b) of this question. d Discuss the implications for the net income figure based on your answers to requirement (c). 9 Alternative approaches to accounting al cost of $600,000. The year of purchase FI